Oxford Economics warns that international donors and investors may withdraw financial support to Mozambique if instability continues beyond the first quarter, due to the "oppression" of the government. The demonstrations that followed the announcement of the election results by the National Electoral Commission and which were called by the candidate...
The net profit of Empresa Hidroeléctrica de Cahora Bassa (HCB) between January and September 2024 amounted to 12,919.42 million Meticais, 29.1% and 13.4% higher than budgeted and recorded in the same period of 2023. As a result of this financial performance, according to the HCB press release sent to our newsroom, it is estimated that the net profit by...
The Financial Results of Hidroeléctrica de Cahora Bassa, SA (HCB) amounted to 1,504.66 million Meticais in the first half of 2024, representing a positive variation of 1,837.3% compared to the same period in 2023. According to HCB's operating and financial performance report, this result derives from income from...
The Mayor of Maputo, Rasaque Manhique, announced the cancellation of a public tender that had been awarded to the companies Karam Car and Fire Solution, citing economic and financial reasons. The decision was communicated in an official statement from the municipality. The tender, awarded and published on June 13th, involved...
Absa Bank Moçambique once again demonstrated a positive financial performance in 2023. It achieved annual net profits of 1,623 million meticais, or 58.7% growth on the previous year. This performance was accompanied by a solid capital base and a robust liquidity position, allowing it to increase shareholder remuneration...
The Electronic Money Institutions (EMIs) in the Mozambican market, which operate via cell phone, broke the record for transfers in 2023, with more than 400 million operations, according to data from the Bank of Mozambique. According to the central bank's statistical report, from January to October, EMIs totaled 401,178,582 transfers - 338.5 million transactions...
The operations of airline Moçambique Expresso (Mex) have been "regrettably" suspended since Thursday of last week (August 31), due to conflicts with state-owned Linhas Aéreas de Moçambique (LAM). Citing an internal circular, Lusa (via Notícias ao Minuto) reports that the suspension involves domestic and regional flights. At the service of LAM, de...
The Portuguese Parliament recently unanimously approved the proposal to revise the Law on Preventing and Combating Money Laundering and Terrorist Financing. According to Notícias, among the new features of the law is the obligation for natural persons, legal entities without legal personality, non-profit organizations, financial institutions and non-financial entities with...